Irving Res Stock Price, News & Analysis

Irving Resources Inc. (CSE:IRV; OTCQX: IRVRF) announced the discovery of a new hot spring system beneath the Omui Mine Site, indicating potential deeper mineralization associated with precious metals. The second diamond drill hole, 21OMI-002, showed a significant 100 m intercept of sinter beds approximately 200 meters deep. Additionally, drilling at the Hokuryu site encountered a notable vein, with results pending. Follow-up drilling is planned for February 2022, building excitement around the exploration potential of the Omu Au-Ag Vein Project in Japan.

Irving Resources has commenced its maiden drill program at the Hokuryu site in Japan, part of its Omu Au-Ag Vein Project. The drilling, contracted with Sumiko Resources Exploration, aims to test four holes in unexplored areas of the Hokuryu vein system, which were historically mined until 1943. A recent geophysical program indicated a significant corridor of resistive rock extending beyond previous mining areas. If drilling is incomplete in 2021 due to weather, it will resume in spring 2022.

Irving Resources Inc. held its Annual General Meeting on August 25, 2021, in Vancouver. The meeting resulted in the re-election of all incumbent directors: Akiko Levinson, Quinton Hennigh, Kevin Box, Douglas Buchanan, and Haruo Harada. Additionally, Davidson & Company was re-appointed as the Company's auditors for the upcoming year. Irving focuses on gold exploration in Japan and has a Joint Exploration Agreement with JOGMEC, a government organization aimed at resource stability in Japan.

Irving Resources Inc. (CSE:IRV; OTCQX:IRVRF) announced plans for diamond drilling at the Omui Mine Site and Hokuryu during Q3-Q4 2021. The initial drill permit for Hokuryu has been secured from METI. The drilling campaign aims to target high-grade veins at the Honpi and Nanko areas, with notable previous intercepts like 3.00 m grading 27.0 gpt Au and 40.5 gpt Ag. The maiden drill at Hokuryu will assess a newly identified vein system. The results from the Omu Sinter drill program were mostly low grade but suggest a structurally significant feeder may be present. Review and additional data acquisition are planned.

Irving Resources provides an update on its exploration activities at the Omu epithermal gold-silver vein project in Hokkaido and its Newmont alliance projects in Japan. Since March 2021, the company has completed three diamond drill holes at Omu, with a fourth in progress, showing significant hydrothermal alteration. The mineralized system at Omu currently extends 1.2 km. Upcoming drilling at the Hokuryu vein target is planned, pending drill permits. Additionally, extensive sampling on the Noto Peninsula and a gravity survey at the Yamagano project have been completed, aiding future exploration.

Irving Resources Inc. (CSE:IRV) has successfully closed a private placement with Newmont Corporation, raising gross proceeds of US$6,000,000 (C$7,544,400) through the issuance of 3,575,545 common shares. Proceeds will be used primarily for exploration at the Omu project in Hokkaido, Japan (US$5,400,000), with US$600,000 allocated to a strategic alliance with Newmont's affiliate for mineral exploration opportunities in Japan. The shares are subject to a hold period in Canada until August 13, 2021.

Irving Resources Inc. has amended its investment agreement with Newmont Corporation, allowing for an additional private placement of US$6,000,000. Newmont has exercised this right, with funds allocated primarily for exploration on the Omu project in Japan (US$5,400,000) and joint mineral exploration opportunities (US$600,000). This funding boosts Irving’s capacity to develop its projects in a resource-rich region while enhancing strategic alliances.

Irving Resources has applied for 99 prospecting licenses covering approximately 337.37 sq km on the Noto Peninsula, Japan. This move aims to make Irving the largest holder of prospecting licenses in the area, known for its promising gold, silver, and multi-element anomalies. The applications have been accepted by Japan's METI and are under review. The company sees significant exploration potential in four key blocks: Northeast Noto, East Noto, Central Noto, and Southwest Noto, each identified with notable mineralization characteristics similar to the historic Sado Kinzan gold mine.

Irving Resources Inc. announced high-grade gold-silver vein intercepts from diamond drill holes at the Nanko vein target, part of its Omu Gold Project in Japan. All drill holes from 2020 returned multiple significant vein intercepts, indicating a robust system. Key results include:

• 2.39 m grading 6.77 gpt Au eq in hole 20OMI-006
• 2.99 m grading 4.74 gpt Au eq in hole 20OMI-007
• 1.87 m grading 10.27 gpt Au eq in hole 20OMI-009

The discovery suggests potential connectivity with another vein system, enhancing exploration prospects.